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LATEST NEWS UPDATES ON ENERGY AND INFRASTRUCTURE FROM ACROSS THE MEDIA SPACE

Reliance Industries (RIL) and British energy major BP on Thursday annnouced the creation of a joint venture energy vertical to work across the entire value chain, involving investment of $6 billion, or Rs 40,000 crore.

The government today said that despite being rich in coal reserves, the country has to import the fossil fuel for power plants with an installed capacity of 83,100 MW which are designed to feed on imported coal.

The international crude oil price of Indian Basket as computed/published today by Petroleum Planning and Analysis Cell (PPAC) under the Ministry of Petroleum and Natural Gas was US$ 46.48 per barrel (bbl) on 14.06.2017.

After successful implementation of daily revision of Retail Selling Prices of Petrol and Diesel on a pilot basis in Chandigarh, Jamshedpur, Puducherry District, Udaipur and Visakhapatnam from 1st May, 2017, Indian Oil Corporation Ltd. (IOC) said on Thursday that it will on the same start revising Retail Selling Prices of Petrol and Diesel across the country on a daily basis from 16th June 2017.

With fuel prices set to be revised on a daily basis from 06.00 am daily effective June 16, Indian Oil Corporation Ltd. has successfully tested all the protocol systems related to dealers and customers to ensure successful roll out of dynamic pricing structure from tomorrow.

The snapping of diplomatic ties with Qatar by many Arab countries underlines the precariousness of oil politics. Much of the Middle Eastern politics are on account of, and have a direct bearing on, oil and gas.

Mukesh Ambani, India's richest man, and his British partner Bob Dudley of BP came calling on the government as they looked to revive investments in fuel retail, according to an ET Now report, after a nine-year hiatus.

Titagarh Wagons has transformed from being a wagon maker for the Indian Railways to also being a shipbuilder. By bagging the ₹175-crore order from the Indian Navy for the construction of four vessels, it has scored against defence PSUs like Goa Shipyard as well as private sector shipyards like Reliance Defence.

Finance Minister Arun Jaitley will leave tonight on a four-day visit to South Korea to participate in the economic dialogue between the two countries and the 2nd Annual Meeting of Board of Governors of the Asian Infrastructure Investment Bank (AIIB).

The China and India-backed Asian Infrastructure Investment Bank (AIIB) on Thursday announced its first equity investment, a $150 million commitment to a fund aimed at pushing infrastructure projects in India.